Update 4/21/11

NOV Bullish Diagonal

NOV dropped Monday and then was up 3 straight trading days after that and since it was already uncovered, no additional trades were made. I will cover NOV on Monday since earnings will be announced Tuesday. Profit is now 480% on the position.



XLE Bullish Diagonal

XLE had the same price pattern as NOV and also is still uncovered with no trades this week. Profit rose to 537% this week.

UA Bullish Diagonal

UA also had the same price action as NOV last week, but since it started the week covered, a trade was made Wednesday to uncover the position. 5 May 80 calls were bought for 3.20. Profit is now 351%.



MHS Bearish Diagonal

I have struggled with bearish oriented trades and MHS can be added to that list. MHS was up the first 3 days this week including a big up day on Tuesday. Thursday it fell back some which hopefully will continue next week. On Wednesday I rolled the short puts up a strike for a 30 cent credit. If MHS is down again Monday I will uncover the position. Currently there is a loss of 15%.

Update 4/15/11

NOV Bullish Diagonal

After being down earlier in the week, NOV bounced back the last two days and I uncovered the long calls today by buying the May 87.5 for 0.60. Profit was down again this week and now stands at 349%.

XLE Bullish Diagonal

XLE had price action similar to NOV and on Tuesday I covered XLE by selling 5 May 80 calls for 0.65. Today I uncovered by buying those calls back for 0.86. Profit on XLE is 440%. 

UA Bullish Diagonal

UA was fairly flat last week. I was able to roll the longs out on Tuesday and up a strike for a 0.05 credit. Profit is now 292%.

DECK Bullish Diagonal

I decided to close the DECK bullish diagonal on Monday. It was time to roll the long out as the number of days to expiration was approaching 60 yet the position was at a loss, so I did not want to add to a losing position. Finall tally on this DECK trade was a loss of 16%.

MHS Bearish Diagonal

I opened a bearish diagonal on MHS on Tuesday. The trade was long 3 Oct 62.5 puts, short 3 May 52.5 puts for a debit of 7.60. Currently the position has a loss of 1%.

 

Update 4/8/11

NOV Bullish Diagonal

On Wednesday I covered the NOV position by selling 9 May 11 calls for 1.30. Overall profit was down this week and currently is 498%.

XLE Bullish Diagonal

No trades were made in XLE this week. Profit was down a little on the week to 640%.

UA Bullish Diagonal

On Thursday I covered the UA position selling 5 May 80 calls for 1.90. Profit was down this week on UA as well to 291%.

DECK Bullish Diagonal

DECK had no trades this week and remains uncovered. DECK was up on the week narrowing the loss to 10%.



Update 4/1/11

I was on vacation most of last week but was able to make some trades. My accounts had all diagonals uncovered by the end of the week which led to some nice profits on Friday, especially on UA.

NOV Bullish Diagonal

NOV bounced around this week and finished flat for the week. I did have a signal to cover on Thursday but I was unable to make any trades that afternoon. NOV bounced back Friday so I left the long uncovered. Current profit on NOV is 574%.

XLE Bullish Diagonal

XLE was flat on the week also with a gain of 3 cents. No trades were made and the total gain on XLE is now 654%.

UA Bullish Diagonal

UA was the big winner this week especially Friday when it rose more than 5 points. I rolled the Jul 60 calls to the 65s and added another contract for 4.40 credit. Profit doubled on the week and now is 309%.

DECK Bullish Diagonal

DECK was up 4 points on the week although no trades were made. There currently is a loss of 20% on the DECK position.